Singapore Hedge Fund

Alternative asset management in Singapore

Singapore-based Hedge Fund, LionRock Capital, Eyes Family Offices, Endowments

According to Total Alternatives, Hari Kumar, co-founder of Singapore-based LionRock Capital, has begun approaching investors for its recently launched LionRock Master Fund. The multi-strategy fund launched on June 15 with $75 million of partners’ capital, but now Kumar, along with co-founders Ben Freischmidt and Julian Snaiph, are approaching family offices, endowments and funds of funds. The capacity is $1 billion.
Total Alternatives

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Korean Firms Found Hedge Fund Platforms in Singapore and Hong Kong

From FINalternatives, news of the build up of hedge fund platforms in Singapore and in Hong Kong.

As the Asian hedge fund industry rises from the ashes of last year’s huge losses and huge redemptions, a number of Korean financial services firms are hoping to play middleman in the resurgent space.

Kookmin Bank, Industrial Bank of Korea, Samsung Securities and Woori Investment & Securities have earmarked more than US$1 billion to build up hedge fund platforms for institutional investors, Asian Investor reports. Woori and Samsung have set up their platforms in Singapore, while Kookmin has opted for Asia’s hedge fund capital, Hong Kong.

Hwang Sung-ho, CEO of Woori I&S, said the firm’s platform is small, but that it is investing substantial resources into building it up. The firm hopes it will be the centerpiece of a multi-asset strategy group.

Woori is also creating a hedge fund index, AI reports.


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Recruiting Quant interns in Singapore

We are looking for Quant Interns to come to Singapore. We provide R/T ticket – accomodation and living allowance for 12 month and the possibility of joining the team after that. This is for a joint venture between a singaporean university and a North American hedge fund to research Risk Analysis in derivative portfolios.

you can apply at

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Forex Guides in Italian, Spanish and French

From our friends at Qnet Exchange, some useful websites with information on Forex trading in the Italian, Spanish and French markets :

Italian  Markets Forex guide:

Guadagnare col Forex Online


Spanish Markets Forex guide:

Sabemos sobre Forex en línea


French  Markets Forex guide:

Votre source sur le marché des devises Forex

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New Asia-focused team at FrontPoint

FrontPoint Partners hired a new Asia-focused event-driven and special situations hedge fund investment team, led by portfolio manager John Foo.

The Singapore-based team all came from Kingsmead Capital Advisors, which Mr. Foo founded.

Joining him is Edgar Chia, analyst, and Hubert Yong, trader; they held similar positions at Kingsmead Capital, according to a FrontPoint news release.

Kingsmead Capital liquidated its similarly managed Asian hedge fund in July 2008, said Erica Platt, a spokeswoman for FrontPoint’s parent, Morgan Stanley Investment Management.

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Singapore-based Asia Genesis to Close Hedge Funds

From Bloomberg, news that Singapore-based Asia Genesis, whose Japan Macro Fund has outperformed its peers, is to close its hedge funds and returning money to investors.

“I need some time to recuperate from weak health,” founder Chua Soon Hock, 50, said in an e-mailed reply to queries from Bloomberg News. “In past years, I have been doing 18-hour workdays with very active positions’ management to keep downside volatility of funds very low. I cannot do that with my current health conditions.”

The Singapore-based hedge-fund firm will return all money invested in the $761 million Japan Macro Fund and $12 million in the Asia Genesis Equity Fund to investors by mid-September, Chua said on Aug. 14.

The Japan Macro Fund returned 24 percent in yen terms in the first seven months of the year. Asia-focused macro hedge funds gained 12.4 percent over the same period, according to Eurekahedge Pte, a Singapore-based industry data provider. Global macro managers wager on currencies, equities, interest rates and commodities based on their fundamental analysis of world economic trends.

The Asia Genesis Equity Fund, which started in May, returned 8.9 percent as of the end of July. The fund uses a long-short strategy, buying stocks the manager expects to rise and hedging those bets with short sales, or the selling of shares expected to drop.


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Hong Kong based hedge fund Tarascon hires new COO from Singapore

From Asian Investor, news of Roger Lee, the previous head of Nikko Asset Management’s Singapore office, who has joined Tarascon Capital, a Hong Kong-based hedge fund.

Tarascon was established in March 2007 by Jonathan Iu, its CIO, to manage an Asia-Pacific equity long/short strategy, with Morgan Stanley as its prime broker. The fund was a rare success story in 2008, gaining 7% when most other long/short strategies in the region were losing money.

Tarascon now manages around $30 million on behalf of individuals and US-based funds of funds. Iu is keen to build on last year’s success but realised the need to augment his small team of three, which includes a head of research and an operations and administration specialist.

Hence the decision to hire Lee as a managing partner. Lee will serve in Hong Kong as COO and run the business on a day-to-day basis, as well as handle client servicing and marketing. “Investors are looking again at hedge funds,” Iu says. “Capital raising is still difficult, but we want to approach more funds of funds and institutional investors. We felt we needed an experienced COO to enhance our appeal to such investors.”

Lee has 16 years in the funds industry. Prior to Nikko AM, where he handled business development for Asia ex-Japan, he worked at a number of other investment firms. These include SBC Brinson/UBS Asset Management, Dresdner Private Banking,  Allianz Asset Management and Columbia Management, the funds arm of Bank of America.

Following Lee’s departure from Nikko Asset Management, the firm has appointed Ng Soo-nam to run the Singapore business.

The Asian Investor

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Singapore-based hedge fund, Nalanda Capital, is said to be offloading its stake in outsourcing firm WNS Global Services.

From The Economic Times in India, news that a Singapore-based hedge fund, Nalanda Capital is said to be following private equity firm, Warburg Pincus in offloading its stake in outsourcing firm WNS Global Services.

A person familiar with the development told The Economic Times in India that Nalanda Capital has put its 12.3% in WNS on the block. The person requested anonymity as he is not authorised to talk to the media.  This comes a day after ET reported that PE firm Warburg Pincus has held initial talks to offload its 50.12% in WNS for an exit amount of $400 million. The transaction would value the BPO at $800 million.

While Merrill Lynch is believed to be advising Warburg on the stake sale, sources said Nalanda hasn’t appointed a banker but would just go with the seller that Warburg identifies. Since it owns less than a fifth in WNS, Nalanda would have lesser bargaining powers when it comes to price. Sources also said that apart from private equity firms such as Blackstone, Nasdaq-listed IT firm Cognizant is a likely suitor for WNS and will shortly kick off the due diligence process.

Considering that Nalanda Capital picked up a stake in WNS only last year, it wasn’t immediately clear why Nalanda Capital is selling its stake in the firm. “Nalanda Capital is structured like a hedge fund, so it does not have any long-term obligations to stay invested. Also, it will be the right time to exit as they would make a profit,” said an official from the private equity industry, who did not wish to be named.

It is pretty active in the open market and has bought shares in Mastek Global, Carborundrum Universal, Triveni Engineering, Kirloskar Engines Sun TV and Mindtree. Nalanda typically buys shares in multiple lots and tends to pick up 7-8% in any company they invest in.  The hedge fund initially picked up 5.25% in WNS last March and has upped its stake over the last year to become WNS’ third-biggest shareholder with 12.3%. While Warburg Pincus owns 50.44%, the second-biggest is Fidelity Management & Research with 12.37%.

The Economic Times

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Event at Singapore Management University on the "Past, Present and Future of the Hedge Fund Industry" – 28/29 October

The annual two-day Hedge Fund Executive Education Programme, which will take place on the 28th and the 29th October 2009, is modeled after the Hedge Fund Training Programme at the London Business School. It will be open to players with interest in the Hedge Fund Industry such as investors, private bankers, finance practitioners, and professionals seeking a career in Hedge Funds. Seminars will be delivered by professors from the London Business School and SMU, and will focus on areas such as hedge fund risks, investment strategies, and performance. To aid learning, the course will feature real world case studies (LTCM, Amaranth, Harvard Endowment, etc), presentations by hedge fund managers, and discussions by professional hedge fund investors.

Selected Speakers

Bill Fung
Professor,London Business School

Melvyn Teo,
Associate Professor,Singapore Management University

Anurag Das¸
Founder and Managing Partner, Rain Tree Capital Management

Tan Chin Hwee
Partner, Apollo Fund Management

Singapore Management University

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Alternative investment management firm K-Atlas, based in Singapore, achieves spectacular returns in 2008

From JoonangDaily, news of a Singapore based joint venture between Korean and US investment  firms, that achieved very high growth in 2008.

Though many were toppled in the United States during the ongoing economic crisis, becoming an investment bank is still the holy grail for many financial institutions in Korea.

Korea Investment Holdings is one of those companies, and its management believes that despite uncertainty over the timing, the economy will get back to normal, and it will just be a matter of time before this dream becomes a reality.  And it may have a shot. Unlike other banking-focused financial groups in Korea, KIH is a holding company with emphasis on its brokerage and asset management businesses, key areas with high growth potential in investment banking.

In February 2008, Korea Investment Holdings and Atlas Capital Management established K-Atlas Advisors, a Singapore-based manager of alternative investment funds, and the launch of K-Atlas Fund, a Singapore-domiciled alternative investment fund targeting hedge fund and private equity investments.

K-Atlas posted more than 70-percent cumulative return rates for 2008, despite the global economic meltdown.


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